Groupon (GRPN) Reports In-Line Q1 EPS of 3c; Guides Q2 Sales

May 8, 2013 4:05 PM EDT
Groupon (NASDAQ: GRPN) reported Q1 EPS of $0.03, in-line with the analyst estimate of $0.03. Revenue for the quarter came in at $604.4 million versus the consensus estimate of $590.18 million.


* Global units: Consolidated units, defined as vouchers and products ordered before cancellations and refunds, increased 4% year-over-year to 45 million. North America units increased 37%, and International units decreased 18%.

* Active deals: As of March 31, 2013, the number of active deals in North America increased to nearly 40,000, compared with nearly 37,000 at the end of the fourth quarter 2012.

* Active customers: Active customers, or customers that have purchased a Groupon within the last twelve months, grew 13% year-over-year, to 41.7 million as of March 31, 2013, comprising 18.2 million in North America, and 23.5 million in International.

* Customer spend: Trailing twelve month billings per average active customer decreased to $138 from $144 in the fourth quarter 2012, related primarily to seasonal strength in the fourth quarter holiday period.

* Mobile: In March 2013, 45% of North American transactions were completed on mobile devices, compared with nearly 30% in March 2012. In the first quarter 2013, more than 7 million people downloaded Groupon mobile apps worldwide.

* Marketplace: The rollout of Groupon's marketplace ("Pull") continued to gain momentum, as email accounted for less than 45% of North American transactions in the first quarter 2013.

Groupon sees Q2 2013 revenue of $575-625 million, versus the consensus of $616.14 million.

For earnings history and earnings-related data on Groupon (GRPN) click here.

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